Nordstrom Reports October and Third Quarter Sales

November 01, 2012 08:28 AM Eastern Daylight Time

SEATTLE--(BUSINESS WIRE)--Nordstrom, Inc. (NYSE:JWN) today reported a 9.8 percent increase in
same-store sales for the four-week period ended October 27, 2012
compared with the four-week period ended October 29, 2011. Preliminary
total retail sales of $835 million for October 2012 increased 11.5
percent compared with total retail sales of $749 million for the same
period in fiscal 2011.

Third quarter same-store sales, which reflected a shift in the timing of
the Anniversary Sale event, increased 10.7 percent compared with the
same period in fiscal 2011. Preliminary third quarter total retail sales
of $2.71 billion increased 13.8 percent compared with total retail sales
of $2.38 billion for the same period in fiscal 2011.

Year-to-date same-store sales increased 7.7 percent compared with the
same period in fiscal 2011. Preliminary year-to-date total retail sales
of $8.17 billion increased 11.4 percent compared with total retail sales
of $7.33 billion for the same period in fiscal 2011.

SALES RECORDING

To hear Nordstrom’s pre-recorded October sales message, please dial
(402) 220-6036 beginning today at 8:40 a.m. EDT. This recording will be
available for one week.

OCTOBER SALES RESULTS

(unaudited; $ in millions)

Total Retail Sales

Same-store Sales

Fiscal

2012

Fiscal

2011

Percent

Increase

Total

Nordstrom

Nordstrom

Rack

October

$835

$749

11.5%

9.8%

10.2%

10.5%

Third Quarter

$2,713

$2,383

13.8%

10.7%

11.2%

8.1%

Year-to-date

$8,166

$7,328

11.4%

7.7%

8.1%

7.5%

Number of stores

Oct-12

Oct-11

Nordstrom

117

117

Nordstrom Rack and other

121

108

Total

238

225

Gross square footage

25,213,000

24,744,000

SAME-STORE SALES

Same-store sales include sales from stores that have been open at least
one full year as of the beginning of the fiscal year. Nordstrom includes
sales from both full-line stores and Direct because of the integration
of these two channels. Total same-store sales include accounting
adjustments that are not allocated to Nordstrom and Nordstrom Rack.
Same-store sales exclude sales made through HauteLook, Nordstrom’s
online private sale subsidiary, which was acquired in the first quarter
of 2011.

EXPANSION UPDATE

In October, Nordstrom opened three Nordstrom Rack stores at Town &
Country in Phoenix, Ariz.; Alamo Quarry Market in San Antonio, Texas;
and Huntington Shopping Center in Huntington, N.Y. In addition,
Nordstrom relocated its Nordstrom Rack store at the City Center in White
Plains, N.Y. to another floor at the same location.

In November, Nordstrom plans to open two Nordstrom Rack stores at
Warwick Mall in Warwick, R.I. and Northgate Mall in Seattle, Wash.

Nordstrom also announced plans to open four Nordstrom Rack stores
beginning in 2013 at Manhasset Center in Long Island, N.Y.; Promenade in
Crocker Park in Cleveland, Ohio; Collection Anex in Chicago, III.; and
Baldwin Commons in Auburn Hills, Mich.

FUTURE REPORTING DATES

Nordstrom’s planned financial release calendar through the next
quarterly earnings period currently includes:

Third Quarter Earnings Release

Thurs., November 8, 2012

November Sales Release

Thurs., November 29, 2012

December Sales Release

Thurs., January 3, 2013

January Sales Release

Thurs., February 7, 2013

Fourth Quarter Earnings Release

Thurs., February 21, 2013

ABOUT NORDSTROM

Nordstrom, Inc. is one of the nation’s leading fashion specialty
retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom
operates 238 stores in 31 states, including 117 full-line stores, 117
Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one
clearance store. Nordstrom also serves customers through Nordstrom.com
and through its catalogs. Additionally, the Company operates in the
online private sale marketplace through its subsidiary HauteLook.
Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the
symbol JWN.

Certain statements in this news release contain or may suggest
“forward-looking” information (as defined in the Private Securities
Litigation Reform Act of 1995) that involve risks and uncertainties,
including, but not limited to, anticipated store openings and trends in
company operations. Such statements are based upon the current beliefs
and expectations of the company’s management and are subject to
significant risks and uncertainties. Actual future results may differ
materially from historical results or current expectations depending
upon factors including, but not limited to: the impact of economic and
market conditions and the resultant impact on consumer spending
patterns; our ability to respond to the business environment, fashion
trends and consumer preferences, including changing expectations of
service and experience in stores and online; effective inventory
management; successful execution of our growth strategy, including
possible expansion into new markets, technological investments and
acquisitions, our ability to realize the anticipated benefits from such
growth initiatives, and the timely completion of construction associated
with newly planned stores, relocations and remodels, all of which may be
impacted by the financial health of third parties; our ability to manage
the change in our business/financial model as we increase our investment
in e-commerce and our online business; our ability to maintain
relationships with our employees and to effectively attract, develop and
retain our future leaders; successful execution of our multi-channel
strategy, including planning, procurement and allocation capabilities;
our compliance with applicable banking and related laws and regulations
impacting our ability to extend credit to our customers; impact of the
current regulatory environment and financial system and health care
reforms; the impact of any systems failures, cybersecurity and/or
security breaches, including any security breaches that result in the
theft, transfer or unauthorized disclosure of customer, employee or
company information or our compliance with information security and
privacy laws and regulations in the event of such an incident; our
compliance with employment laws and regulations and other laws and
regulations applicable to us, including the outcome of claims and
litigation and resolution of tax matters; compliance with debt covenants
and availability and cost of credit; our ability to safeguard our brand
and reputation; successful execution of our information technology
strategy; our ability to maintain our relationships with vendors; trends
in personal bankruptcies and bad debt write-offs; changes in interest
rates; efficient and proper allocation of our capital resources; weather
conditions, natural disasters, health hazards or other market
disruptions, or the prospects of these events and the impact on consumer
spending patterns; disruptions in our supply chain; the geographic
locations of our stores; the effectiveness of planned advertising,
marketing and promotional campaigns; our ability to control costs; and
the timing and amounts of share repurchases by the company, if any, or
any share issuances by the company, including issuances associated with
option exercises or other matters. Our SEC reports, including our Form
10-K for the fiscal year ended January 28, 2012, and our Forms 10-Q for
the fiscal quarters ended April 28, 2012 and July 28, 2012, contain
other information on these and other factors that could affect our
financial results and cause actual results to differ materially from any
forward-looking information we may provide. The company undertakes no
obligation to update or revise any forward-looking statements to reflect
subsequent events, new information or future circumstances.